5 things you need to know today

1. The Federal government revealed current coronavirus lockdown restrictions are delivering a $4billion hit to the Australian economy every week.

2. The National cabinet will meet today to discuss easing lockdown restrictions. New Zealand Prime Minister Jacinda Ardern will be joining the National cabinet to discuss the possibility of flights between Australia and New Zealand opening up again.

3. Scott Morrison has pledged $352million to research for a potential vaccine in the EU, which has nearly $8billion worth of fundraising support from countries around the world.

4. There are currently 6823 COVID-19 cases in Australia and 96 deaths across the country. NSW has 3033 cases, Victoria has 1406, Queensland has 1038, WA has 551, ACT has 107, SA has 438, the Northern Territory has 29 and Tasmania has 221 confirmed cases.

5. Wall Street closed on a high yesterday. The Dow finished up 0.11% to 23,749.76, the S&P 500 rose 0.42% to 2,842.74 and Nasdaq rose the highest, up 1.23% to 8,710.72.